Vic.ai Introduces Superior Performance Analytics for Accounts Payable Teams and Finance Leaders
May 23 2024 - 7:30AM
Vic.ai, the leading autonomous finance platform, today debuts three
new analytics packages tailored for the needs of Accounts Payable
(AP) professionals and finance leaders. With the release of
Standard, Advanced, and Premium Analytics packages, customers will
now be equipped with the insights they need to drive better
business outcomes, from monitoring the performance of their
organization against core KPIs to measuring improvements in team
productivity as a result of their optimized AP workflows.
"Our new analytics packages harness the transformative power of
AI to bring unprecedented transparency and efficiency to accounting
processes. This launch marks a significant milestone in our
commitment to delivering tangible value to our customers,
empowering them to make more informed, data-driven decisions. With
these tools, we're not just enhancing operations; we're setting a
new standard for what AI can achieve in the financial sector," says
Alexander Hagerup, co-founder and CEO of Vic.ai.
Each package is designed to support customers along their
autonomous finance journey:
- Standard Analytics: Customers can measure the
performance of their Vic.ai implementation and track AI learning
and improvement over time. They can also monitor monthly invoice
volume, accuracy rates, no-touch rates, and automation rates.
- Advanced Analytics: Building on Standard
Analytics, customers can also access metrics to monitor the
performance of the AP team, approvers, and vendors with reports on
team efficiencies, approvals, and PO matching. Finance leaders gain
access to executive reports including tracking the financial return
on their Vic.ai investment, AI performance, payment information,
such as status and early payment discounts capture rate, as well as
Autopilot enablement. Customers can also speed up the monthly close
with invoice audit reports and downloadable performance
reports.
- Premium Analytics: This tier includes
everything in Advanced Analytics, as well as speed and velocity
metrics to accelerate business performance and workflows. This
package also includes custom reports and access to raw data files
that can be exported and merged with proprietary data for bespoke
analytics.
This release represents an evolution in Vic.ai analytics
capabilities and includes a myriad of customer use cases
consolidated into easily consumable reports and dashboards for
broader use. With enhanced analytics, Vic.ai customers now can:
- Go fully autonomous: AI performance monitoring provides
oversight and confidence for customers to turn on the Autopilot
feature for fully autonomous invoice processing from ingestion, to
coding, and through approvals.
- Eliminate AP bottlenecks: Monitor AP team member processing
time, review approval queues by approver, and view which vendor
invoices require the most attention.
- Improve AP workflows: Review overall invoice age on platform to
pinpoint where handoffs and processes can be streamlined.
- Speed up end-of-month, quarter, or yearly close: Export audit
reports and accruals in minutes to keep bookkeeping up to date and
tidy.
Vic.ai is committed to supporting customers’ growth aspirations,
and the expanded analytics packages offer multiple features and
functionality to meet their varying needs.
For additional information about Vic.ai's new analytics packages
and to learn how they can enhance your financial management
strategies, join the upcoming Q2 2024 Release Webinar on June 6,
2024 at 9 a.m. PT / 12 p.m. ET, or contact us.
Learn more about Vic.ai Analytics at
https://www.vic.ai/products/processing-insights.
About Vic.aiVic.ai is pioneering the use of
autonomy and intelligence to digitally transform accounting and
finance processes to improve productivity, decision-making, and
ROI. Vic.ai addresses the most manual and inefficient task in
accounting — invoice processing — to improve its speed and
scalability and ultimately enable customers to reinvent their
accounts payable operations and improve financial management. By
processing more than a billion invoices with up to 99% accuracy,
Vic.ai has helped 10,000+ customers achieve nearly $200 million in
cost savings and 6 million hours in time savings. Vic.ai is jointly
headquartered in New York City and Oslo, Norway. For more
information, please visit http://www.vic.ai/.
For more Information:Mark
FisherVic.aimark.fisher@vic.ai